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File #: 24-0086    Version: 1 Name: TEFRA Public Hearing and Issuance of Bonds by the California Municipal Finance Authority
Type: CC- Public Hearing Status: Agenda Ready
File created: 1/9/2024 In control: City Council
On agenda: 1/30/2024 Final action:
Title: PUBLIC HEARING - TEFRA PUBLIC HEARING AND ISSUANCE OF BONDS BY THE CALIFORNIA MUNICIPAL FINANCE AUTHORITY IN AN AMOUNT NOT TO EXCEED $20 MILLION FOR ORCHARD COMMONS - 811 BOYD STREET BACKGROUND: The issuance of tax exempt, private activity bonds must be approved by the jurisdiction the project is located following a public hearing. Santa Rosa Boyd, LP (“Borrower”) has selected the California Municipal Finance Authority (“CMFA”), a joint-powers authority of which the City is a member, to be the issuer of multifamily housing revenue bonds for Orchard Commons, formerly known as Boyd Street Family Apartments, 46 rental units, located at 811 Boyd Street ( “Project”), in an amount not to exceed $20 million, and has requested that the City Council conduct a public hearing in accordance with the Tax Equity and Fiscal Responsibility Act of 1983 (“TEFRA”). A public hearing is required to provide a reasonable opportunity for interested individuals to express their views, orally or in writing, on...
Sponsors: Housing and Community Services
Indexes: Exempt Project, Not a Project
Code sections: 15183 - Consistent with Community Plan, General Plan, or Zoning, 15332 - Infill Development
Attachments: 1. Staff Report, 2. Attachment 1 - Locational Graphic, 3. Attachment 2 - Request from Danco Communities for the TEFRA public hearing, 4. Resolution, 5. Public Hearing Notice, 6. Presentation
Related files: 20-0065